Monday, 31 May 2010

Luxury News In Brief - 31/5/10

As Tiffany & Co. recently announced their higher dividends, the company has achieved yet another success this week, as they beat consensus estimates in their first quarter earnings. The company was 7.5 per cent higher, well above many analyst estimates.

Burberry also checked in positively with increased profit, as revenue was up 6.5% per 1.28 billion pounds. How was this achieved? Burberry “slashed inventories, boosted profit margins and grew its retail operation to account for 58 percent of sales, up from 52 percent a year earlier.”

Whilst its luxury peers flourish, Richemont Group have issued a very cautious and pessimistic outlook. Although CEO Johann Rupert is known for his pessimistic ways, we are yet to find out whether Richemont Group are dulling things down for the element of surprise later in the year.

Bulgari and Luxottica tie the knot this week, in a renewed agreement for their global eyewear License. Covering the design, production and distribution of the eyewear, under the Bulgari brand, the agreement is set for ten years, ending December 31st, 2020.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,